Fidelity Institutional Wealth Services and National Financial introduced Nov. 11 “Insight & Outlook,” a new program that offers FIWS’s RIAs, and National Financial’s broker/dealers, access to Fidelity’s market intelligence and industry insights, including Monday Wake-Up Call, a weekly conference call featuring strategists from Fidelity Capital Markets.
…Denver-based Gsphere has introduced MyDiversification.com, a portfolio diversification diagnostic tool for both advisors and investors…
Schwab Charitable has become the 10th largest charity in the U.S., according to the Chronicle on Philanthropy, just as the donor advised fund celebrates its 10th anniversary.
…Following passage in the House of the Affordable Health Care for America Act, which on November 6 the Congressional Budget Office estimated would cost a net $891 billion over 10 years for expanded health insurance coverage, debate on healthcare reform moves to the Senate, where earliest passage is not expected until the week of Dec. 7.
…Barclays Global Investors said it will develop an iShares Genocide-Free ETF, relying on a “reputable third-party index provider to identify companies around the world that they believe are strongly connected to genocide to screen out of an established, broad-based international benchmark.”
…CIT Group Inc.’s holding company filed for Chapter 11 bankruptcy on November 1. The big lender had received $2.3 billion in TARP funds in December 2008 to keep it above water. Under the filing, existing debt would be replaced with new debt, but it’s unlikely that the Treasury will get back its entire investment.
…Fidelity’s National Financial has launched a new Bank Deposit Sweep Program, which enhances its existing single-bank sweep program by offering its affiliated broker/dealers the opportunity to sweep cash from customers’ eligible brokerage accounts into interest-bearing, FDIC-insured bank accounts at up to eight different banks.